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What is the Fair Credit Reporting Act?

Fair Credit Reporting Act

Ever wonder what the Fair Credit Reporting Act is? To protect consumers, the federal government enacted legislation in the early 1970s to monitor how information about your credit history is being shared with others. The idea behind the act is that a credit reporting agency must supply accurate information regarding your credit history. As part of this, it provides for the ability of a consumer to make changes or request corrections to the credit report.

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